Gambling expansion was approved in the Senate last week. It was sponsored by Democratic Sen. Terry Link of Waukegan, although a couple of Republicans support it.
A provision in the bill cuts taxes on casinos. Sen. Dale Righter, R-Mattoon, said the reduction will cost the state $280 million. Not so, replied Link, who said the cut will give casinos an incentive to expand their operations, which will actually generate more casino taxes.
So ponder for a moment: A Republican is expressing opposition to a tax cut, and a Democrat is touting a tax cut as a way to actually generate more taxes.
“I love the supply-side rhetoric,” Righter said.
* Meanwhile, a late push for a Springfield casino is being made. From the proponent…
A 1,200 position casino near the Old State Capitol will generate major economic benefits
· Drawing tourists visiting the Lincoln Museum and historic sites to spend at local businesses
· Estimated $150 million to $175 million in adjusted gross revenue, with a significant local share
· Those local dollars can invest in:
* New buildings and existing building renovations for city school District 186
* Much-needed renovations at the Illinois State Fairgrounds
* Supporting the Prairie Capital Convention Center, affordable housing and more attractive entryways to the city
* Downtown infrastructure needs
The guy who came up with the idea, Chris Stone, appeared on Rick Pearson’s WGN Radio program yesterday. Click here to listen.
Stone came up with the idea too late to get it into the gaming expansion bill that passed the Senate (again) last week.